I am hoping to complete next month on a garden flat in Monken Hadley. Conveyancing lawyers inform me that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Monken Hadley should include some of the following:

• Does the lease prohibit wood flooring?
• Whether the lease restricts you from letting out the flat, or working from home
• You should be told what counts as a Nuisance in the lease
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• Responsibility for repairing the window frames
• What options are open to you if a neighbour is in violation of a provision in their lease?

I have just appointed agents to market my 2 bed flat in Monken Hadley.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – what should I do?

It best that you clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I own a leasehold flat in Monken Hadley. Conveyancing and Aldermore mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Monken Hadley who previously acted has long since retired.What should I do?

First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Monken Hadley conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Monken Hadley both have in the region of fifty years left on the lease term. Will this present a problem?

There are plenty of short leases in Monken Hadley. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

I own a ground-floor 1960’s flat in Monken Hadley. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

Absolutely. We are happy to put you in touch with a Monken Hadley conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Monken Hadley property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the unexpired term as at the valuation date was 76 years.

What makes a Monken Hadley lease problematic?

Leasehold conveyancing in Monken Hadley is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

Monken Hadley Leasehold Conveyancing - Examples of Queries before Purchasing

Who takes charge for maintaining and repairing the building? How long is the Lease?